Pivot
(invalidation):
5.8930
Our preference
Short positions below 5.8930 with targets at 5.8670 & 5.8530 in extension.
Alternative scenario
Above
5.8930 look for further upside with 5.9100 & 5.9300 as targets.
Comment
Technically the RSI is below its neutrality area at 50. The pair has posted a bearish pattern of
lower
highs while being capped by the descending 20-period moving average.
